ERHC Energy Inc (ERHE)

[bsk2007]

Tryoty,

>>No error in print lowman. Proven reserves are valued at $5 per barrel as evidenced by the sale price of the nearby AKPO field. If ERHE comes in with its share at 1B barrels, it will be worth $5B, or $7 per share. Once the fields are developed the value goes to $12 per barrel, or $17 per ERHE share.<<

Is there a post that explains how you reached these numbers? I'm interested to see how we come up with such different conclusions.

I'm figuring 1 billion bbls per block would yield ERHC about 200 million bbls after our operators and taxes get done with us. Are you estimating more than 1 billion bbls per block, or are you adding in blks 5,6,9 and the STPEEZ?

I'm hoping for a total of 500 million bbls (X) $15 bbl/proven and developed. This multiplies out to about $10 per share.

Thanks in advance.
bsk